22nd Century Group Stock Forecast
22nd Century Group stock price ended at $1.68 on Tuesday, after gaining 1.82%.
(Updated on May 07, 2024)
The 22nd Century Group stock price gained 1.82% on the last trading day (Tuesday, 7th May 2024), rising from $1.65 to $1.68. During the last trading day the stock fluctuated 4.29% from a day low at $1.63 to a day high of $1.70. The price has fallen in 6 of the last 10 days but is still up by 0.6% over the past 2 weeks. Volume fell on the last day by -20 thousand shares and in total, 79 thousand shares were bought and sold for approximately $132.15 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.09 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 107.44% during the next 3 months and, with a 90% probability hold a price between $2.25 and $9.08 at the end of this 3-month period.
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XXII Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -52.81%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The 22nd Century Group stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $1.66 and $1.35. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for 22nd Century Group stock
22nd Century Group finds support from accumulated volume at $1.67 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0700 between high and low, or 4.29%. For the last week the stock has had daily average volatility of 5.39%.
Our recommended stop-loss: $1.59 (-5.44%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 22 days ago.)
Trading Expectations (XXII) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect 22nd Century Group Inc to open at $1.67, and during the day (based on 14 day Average True Range), to move between $1.47 and $1.89, which gives a possible trading interval of +/-$0.213 (+/-12.69%) up or down from last closing price. If 22nd Century Group Inc takes out the full calculated possible swing range there will be an estimated 25.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.67 (0.60%) than the resistance at $1.73 (2.98%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
22nd Century Group will release earnings BMO on Tuesday, May 14, 2024.The consensus among the analysts for the expected earnings (EPS) is -$5.28. We will update the financials statements for 22nd Century Group, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 14.72% in the first trading day after earnings release.
Is 22nd Century Group Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for 22nd Century Group stock to perform well in the short-term.
Current score: 2.522 Buy Candidate Unchanged
Predicted Opening Price for 22nd Century Group Inc of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $1.67 ( 0.595%) | $1.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XXII
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.74 | 3.57 % | |
| R2 | 1.71 | 1.98 % | ||
| R1 | 1.70 | 1.00 % | ||
| Current price: | 1.68 | |||
| Support | S1 | 1.64 | -2.19 % | |
| S2 | 1.63 | -3.17 % | ||
| S3 | 1.60 | -4.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.85 | 10.12 % | |
| R2 | 1.84 | 9.52 % | ||
| R1 | 1.73 | 2.98 % | ||
| Current price | 1.68 | |||
| Support | S1 | 1.67 | -0.595% | |
| S2 | 1.65 | -1.79% | ||
| S3 | 1.61 | -4.17% |
FAQ
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